Portside Wealth Group LLC Has $1.19 Million Stake in Monster Beverage Corporation $MNST

Portside Wealth Group LLC increased its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 9.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 18,967 shares of the company’s stock after buying an additional 1,633 shares during the quarter. Portside Wealth Group LLC’s holdings in Monster Beverage were worth $1,188,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MNST. Vanguard Group Inc. lifted its position in shares of Monster Beverage by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 65,360,899 shares of the company’s stock valued at $4,094,207,000 after acquiring an additional 574,275 shares during the period. Geode Capital Management LLC raised its stake in Monster Beverage by 4.1% in the second quarter. Geode Capital Management LLC now owns 18,680,424 shares of the company’s stock valued at $1,165,292,000 after purchasing an additional 742,518 shares in the last quarter. Invesco Ltd. lifted its position in Monster Beverage by 6.6% during the first quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock worth $535,712,000 after purchasing an additional 563,353 shares during the period. Ninety One UK Ltd grew its stake in Monster Beverage by 4.9% during the second quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company’s stock worth $560,282,000 after buying an additional 418,918 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Monster Beverage during the 1st quarter valued at approximately $497,157,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MNST shares. Roth Capital reissued a “neutral” rating and issued a $60.00 price objective (up previously from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Jefferies Financial Group reissued a “buy” rating and issued a $79.00 price objective on shares of Monster Beverage in a research note on Tuesday, November 4th. Stifel Nicolaus raised their price target on shares of Monster Beverage from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Morgan Stanley reissued an “overweight” rating and issued a $81.00 price objective (up from $74.00) on shares of Monster Beverage in a research note on Friday, November 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Monster Beverage from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $69.62.

Insiders Place Their Bets

In other Monster Beverage news, insider Guy Carling sold 38,438 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total transaction of $2,741,782.54. Following the sale, the insider owned 21,993 shares in the company, valued at $1,568,760.69. This represents a 63.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.30% of the company’s stock.

Monster Beverage Price Performance

MNST opened at $72.90 on Wednesday. The firm has a market capitalization of $71.22 billion, a P/E ratio of 45.28, a PEG ratio of 2.31 and a beta of 0.53. The company’s 50-day moving average is $67.76 and its 200 day moving average is $64.10. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $73.07.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.